The vacancy rate in Sydney's rental market has slightly increased, offering a glimmer of hope amid the nation's housing crisis. 9News
Vacancies in the city increased by 0.17 per cent in April, according to new data from PropTrack, although the vacancy rate still lies at just 1.59 per cent.
While the market has grown slightly, rental vacancy rates are still down 54 per cent from before the COVID-19 pandemic.The vacancy rate in Sydney's rental market has slightly increased, offering a glimmer of hope amid the nation's housing crisis. Sydney's rental vacancies have only dropped 0.45 per cent in the last month, despite the recent uptick.
The high demand and limited supply have also pushed rental prices up 12.15 per cent in the last year.Slight upticks in rental vacancies were also seen in other capital cities.Perth wasn't far behind with a 0.9 per cent increase, while Hobart had the highest increase in rental vacancies at 0.31 per cent.
Canberra has the highest rental vacancy rate at 2.06 per cent, while every other city had a rate below 1.70 per cent.
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